The consolidated general budget recorded a surplus of RON 6 billion after the first four months of 2015, compared to a deficit of RON 1.88 billion posted in the same period of last year, according to the data released by the Ministry of Public Finance (MFP), HotNews.ro informs.
The revenues of the consolidated general budget, RON 76.03 billion, representing 10.9 percent of GDP, were by 12.1 percent higher in nominal terms as compared to the same period a year earlier.
The consolidated general budget’s expenditures stood at RON 70.1 billion, higher by 0.5 percent in nominal terms over the same period of 2014, but lower by 0.5 pp as a share of GDP, MFP release reads.
The money spent by the government for investments in the first four months of 2015 are at half as percentage of GDP compared to 2012 and 2013, according to budget execution. The amount means 13 percent of the RON 40 billion for investments this year, according to the budget law.
The estimates of Fiscal Council indicate effective deficits above the reference level of 3 percent of GDP for the real deficit in 2016-2019 period and the expected developments in the structural budget balance suggest reversing the progress made to date in terms of fiscal consolidation.